IMAX (NYSE:IMAX) Hits New 1-Year High – Time to Buy?

IMAX Co. (NYSE:IMAX)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $26.54 and last traded at $26.47, with a volume of 252992 shares. The stock had previously closed at $26.03.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IMAX shares. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Stock Up 0.9 %

The firm’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $19.74. The stock has a market capitalization of $1.38 billion, a P/E ratio of 59.16, a PEG ratio of 1.66 and a beta of 1.22.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities analysts anticipate that IMAX Co. will post 0.78 EPS for the current fiscal year.

Institutional Trading of IMAX

Several large investors have recently modified their holdings of the company. FMR LLC increased its position in IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after buying an additional 2,054,031 shares during the period. Royce & Associates LP lifted its position in IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. boosted its stake in IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after buying an additional 127,371 shares in the last quarter. Private Capital Management LLC increased its holdings in IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after buying an additional 118,649 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of IMAX by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after acquiring an additional 42,952 shares during the period. 93.51% of the stock is owned by institutional investors.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.